Oil & Gas - Cavendish sector note

Falcon Oil & Gas, Parkmead Group, 88 Energy, Westmount Energy, Baron Oil, Molecular Energies, Empyrean Energy, Coro Energy, Tethys Oil, Ithaca Energy, Pharos Energy, EnQuest, Genel Energy, Wood Group, Capricorn Energy, Arrow Exploration, Valeura Energy, Bowleven, i3 Energy. Source: FactSet, weekly change 25/03/24-28/03/24 Oil scored a 16% quarterly gain in the latest sign that export curbs by OPEC and its allies are reining in global supplies. West Texas Intermediate futures closed above $83 a b

AUCTUS ON FRIDAY - 28/03/2024

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$1.00 per share: Logging results at Welchau further derisk the discovery – The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with hydrocarbon shows between 1346 m and 1702 m measured depth. This represents 356 m of gross interval across three interpreted lithological sequences. This compares with only 115 m of l

Morning Note – 28 March 2024

Hybridan Small Cap Feast - 05 Feb 2024

5th February 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje

Morning Note – 5 February 2024

Oil & Gas - Cavendish sector note

Parkmead Group, Chariot, Jersey Oil & Gas, Falcon Oil & Gas, 88 Energy, Hartshead Resources, Empyrean Energy, Coro Energy, Baron Oil, Longboat Energy, Trinity Exploration & Production, Diversified Energy, Savannah Energy, Shell, Gulf Keystone Petroleum, Jadestone Energy, Nostrum Oil & Gas, ExxonMobil, Chevron Corporation, TotalEnergies Source: FactSet, weekly change 29/01/24-02/02/24 Oil slumped as talks to pause the Israel-Hamas war reduced crude’s geopolitical risk premium, with the decline ac

Hybridan Small Cap Feast - 02 Feb 24

2nd February 2024 @HybridanLLP Status of this Note and Disclaimer This document has been issued to you by Hybridan LLP for information purposes only and should not be construed in any circumstances as an offer to sell or solicitation of any offer to buy any security or other financial instrument, nor shall it, or the fact of its distribution, form the basis of, or be relied upon in connection with, any contract relating to such action. This document has no regard for the specific investment obje

Auctus on Friday - 02/02/2024

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.65 per share: Operations on track – 4Q23 production was 218 boe/d as Anshof did not contribute to production during the quarter (in line with previous indications). Commercial production at Anshof is expected to restart in March after the commissioning of a permanent production facility. ADX held ~A$8 mm in cash as at YE23. Drilling at the high impact Welchau-1 well targeting between 365 bcf an

Morning Note – 2 February 2024

Parkmead Group - Corporate update

Parkmead has released a positive update on its Dutch gas business, where the new LDS-01 well is performing strongly, pushing production to its highest level for four years. Sharply lower European gas prices, down almost a third since the start of December, take some of the shine off the release and hit FY24 estimates. However, our risked NAV and price target still increases 11% to 50p/sh following the inclusion of new projects and Parkmead’s significant UK tax-loss shelter.

Oil & Gas - Cavendish sector note

88 Energy, Touchstone Exploration, Diversified Energy, Jersey Oil & Gas, NEO Energy, Parkmead Group, Falcon Oil & Gas, Wentworth Resources, Energean, PetroTal, Genel Energy, Jadestone Energy, Tullow Oil, ExxonMobil, Valeura Energy, Beacon Energy, Canadian Overseas, Zephyr Energy, Panoro Energy.

SP Angel Morning Energiser: 17/11/23

Crude oil prices tumble below $80/bbl

Auctus on Friday - 03/02/2023

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at Anshof-2 has started. The well is targeting the field’s possible reserves with an unrisked NAV of A$0.23 per share. A success would open-up the 3C case with an additional A$0.26 per share unrisked NAV. Arrow Exploration (AXL LN/CN)C; target price of £0.55 per share: High flow and a new discovery at RCE-6. Larger volumes than expected a

Morning Note – 17 November 2023

Parkmead Group - Solid results in a challenging year

Robust FY23 results from Parkmead in what was a challenging year for the company, which included production downtime to tie-in a new well and upgrade facilities as well as significant write-downs. Nevertheless, its Dutch gas business showed its mettle, while its wind farm asset performed strongly. A successful UKCS decommissioning programme leaves a pristine balance sheet with which management can pursue its portfolio of oil and gas and renewables opportunities.

Alien Metals - Hancock Project, Mining Lease Granted

Alien today reports intraday that the Western Australian Government has granted a mining licence for the Hancock iron ore project for a 21-year term. The granting of the mining licence is the latest milestone delivered by Alien as it advances the project towards development and production.

SP Angel Morning View: Gold resilient as US interest rates climb on long-term inflation concerns

SP Angel Morning View: Copper prices hit $9,700/t as China smelts concentrates for zero charge Tc/Rc

I3 Energy (I3E LN) - Canada royalty assets sale

I3 has announced the sale of the majority of its royalty interests in Canada, for US$24.8m cash. This allows the company to fully repay amounts drawn on its debt facility and create a working capital surplus, giving I3 significant additional funding flexibility going forward

SP Angel Morning View: Global Li-ion battery demand reaches all-time in Q1 2024

Challenger Energy (CEG LN) - £1.5m strategic investment in Challenger

Challenger has announced a £1.5m investment in the company from investor Charlestown Energy. This now allows Challenger to be fully funded for the foreseeable future as it works towards closure of its significant Uruguay farm out to Chevron, and the US$12.5m cash payment to be received once this is achieved.

Enwell Energy (ENW LN) - Q1 2024 update

Enwell has released its Q1 2024 update, showing ongoing production and limited natural decline versus the previous period, alongside further cash generation.

Jubilee Metals - Operational Update Q3 FY2024

Jubilee today reports its Q3 and third quarter operational results from its expanding operations in Zambia (copper) and South Africa (chrome and PGM). South Africa is on a growth trajectory with record chrome production of 409kt in the quarter (Q2 FY2024 381kt) and a monthly record in March of 145kt and production YTD of 1.13Mt (0.94Mt). Jubilee is well underway to its annual target capacity of 2,1Mt/yr especially with the new 300kt/yr chrome plant at Thutse expected to be operational in August

Tethys Oil AB (SSE: TETY): Increasing further the size of the prize

• The South Lahan area on Block 58 is estimated to hold 55-523 mmbl prospective resources (P90-P10 case) with a mean case of 251.8 mmbbl prospective resources across six prospects in the Ara Carbonate. • Combined with the previously disclosed prospective resources of the Fahd area in the north-eastern part of Block 58, Tethys Oil’s unrisked recoverable prospective resources on the block are estimated to be 435.9 mmbbl (Pmean). • The geological chance of success ranges from 6% to 11% for the six

JEV: Exploring Spin-off for Hydrogen Assets

What you need to know: • JEV announced that it has commenced a strategic process to explore the spin-off of its hydrogen portfolio. We view this as a strong positive for shareholders. • Over the past month, JEV also closed a $2.2M private placement and amended the terms on its debentures, setting up the Company for this transaction. Yesterday after market close, Jericho Energy Ventures Inc. (JEV:TSXV, JROOF:OTC) announced that it has commenced a strategic process to explore the spin-off and s

Clean Power Hydrogen - New customers and licensees circling…

CPH2 has released FY23 results with the company completing the period with a slightly lower cash outflow from operations and a higher cash balance than forecast. Looking ahead, with a new and improved technical and engineering team, the company has committed to completing Factory Acceptance Testing of its first MW scale electrolyser, the 0.5MW MFE110, within the next three months. In our view, this will be a major milestone for the company which will demonstrate that its unique technology can be